January 30, 2015
PPG submits offer to acquire majority interest in aerospace and automotive sealants businesses of Le Joint Francais
PPG Industries has submitted an offer to acquire a majority interest in the aerospace and automotive sealants businesses of Le Joint Français (LJF). LJF is a supplier of sealants and adhesives products for the aerospace and automotive industries and has been a long-term licensee of PPG’s aerospace sealant technology. LJF’s aerospace and automotive sealants businesses would be spun-off to form a new, separate entity, of which PPG would be the majority owner. PPG anticipates closing the transaction in the second half of 2015, following completion of the French works council consultation process, receipt of regulatory approvals and satisfaction of other customary closing conditions. Financial terms were not disclosed. LJF is headquartered in France and is part of the Hutchinson Group, a world leader in sealing systems, vibration, acoustic and thermal insulation, fluid transfer systems, transmission and mobility. LJF’s aerospace and automotive sealants businesses employ more than 200 people, and the new entity would continue operations in Bezons, France, at the facility where these businesses are currently based.